May 31, 2016
The landscape at is changing – at a quite rapid pace. For many decades the only strength for ’s economy lay in its vast resources of natural gas and crude oil. But under the reign of King Salman things are turning their direction. Instead of solely relying on Oil Revenue, wants to follow the role model of UAE with a diversified economy not just focused on natural resources but also in the fields of business, defense and technology. The Kingdom is facing a turn on the road of its future. It can either carry out its existing policies that the ruling family have themselves started to question as outdated or they can lay a plan for a more radical development to acquire s place in the global market in science and technology.
For many years the Kingdom of has been providing the natives with jobs in the public sector. However as the youth and women in are getting more educated in recent years, the ministry of labor has expressed its desire to place it blooming educated public in the private sector as well. With the Kingdom Big Data & Analytics summits and other tech based conferences taking place this year, it clearly demonstrates the interest of the government in Big Data Services in .
Big Data services however require Business Intelligence services in to prosper as both work in unison. Students are being taught latest courses regarding analytics so that they can propel Data warehouse managed services in , a lucrative emerging market in the Middle East.
As Prince Muhammad bin Salman expressed his desire for to be free of its dependence on oil revenue by 2020 in April, which counts for 90% of the total GDP, the government is viewing many alternatives from mining to data mining.
Data warehouse services in are yet in the nascent stage and require the expertise of reputable international organizations that have years of experience under their belt. Big Data services in are also a very tempting segment to target. As the world is shifting towards big data analytics to make use of zettabytes of data at disposal, the problem is not having sufficient data but to identify trends and patterns from too much data.
Business Intelligence in is also directly proportional to the growth in data analytics industry. With the booming growth is usage of Facebook, WhatsApp and YouTube in , marketers have in their way a score of data depicting customer preferences which if properly comprehended, can expand sales in a matter of short period of time. Because Saudis have more presence on the social media as compared to spending time with friends and peers. With 75% of Saudis under the age of 30 with a strong virtual presence. Thus it is a high time for businesses and especially marketing personnel to tap into this growing inclination of going online and acquiring more customers who would be happier to buy due to a rich economy and high standards of living. Which is why organizations operating in need to invest in Business Intelligence in in order to maximize their profits and to grow their market share.